Even if you’ve just randomly glanced in the direction of the crypto markets, you’ll see just how well Bitcoin is doing. From its humble beginnings of costing just a few cents to own, to topping the market charts at over $7,000, the Bitcoin bandwagon isn’t stopping anytime soon.
It’s not just enough to buy Bitcoin though. You need a safe space to store it. Its popularity will only increase, and the last thing you need to worry about is whether its secure or not. With Blockchain technology’s popularity also on the rise, you need to ensure that you find the best wallet for your crypto journey.
With safety and security in mind, let’s count down the top five wallets on the market,
Number 5
Coinbase
Even though an online exchange is in general not as safe as an online wallet, Coinbase offers many benefits in addition to being extremely user friendly. You can buy, sell, exchange and trade Bitcoin on the platform. What’s more, you can store your Bitcoin on it as well.
However,there is a big risk to storing Bitcoin on the same platform where you trade with it. Key examples of this are the Bitfinex and Mt. Gox hacks, losing a combined total of 970,000 Bitcoin.
This is why Coinbase also offers two-factor authentication process for added security, and peace of mind.
Number 4
Blockchain.info
This platform claims to be the “world's most popular digital wallet”. This could very well be the case as the platform has more than 15 million wallets, and has assisted in more than 100 million transactions.
In addition,Blockchain.info prides itself its high security standards when it comes to storing your hard-earned Bitcoin.
Number 3
Electrum
This software wallet offers a desktop storage option for your Bitcoin. It’s also available as a mobile app for Android, making it even more convenient.
Even though it’s easy to use, its main selling point is that it offers security. This is because the user controls his or her private key, while Electrum doesn’t have any access to it.
It also has a two-factor authentication process and is compatible with cold storage and hardware wallets.
Number 2
Ledger or Trezor
These hardware wallets or dongles are safe and easy to carry around.
In addition, having a cold storage wallet eliminates any counterparty risks and also substantially decreases the risks of cybercrime.
However, this isn’t for free.Prices range from €58 to €229.
Number 1
Paper Wallet
As the name suggests, this is a document with all of the information you require to generate your Bitcoin private keys. This type of offline storage means that you have complete control over your Bitcoin.
Out of all of the digital options out there, paper might seem like a 1980s choice, but it is the safest, which is exactly what you want when storing any type of currency, especially Bitcoin.